French PM Edouard Philippe wins confidence vote, vows to cut budget deficit

Prime Minister of France Edouard Philippe overwhelmingly won a confidence vote in the National Assembly on 04 July 2017 after vowing to bring the country’s budget deficit under the European Union limit of 3 percent this year without raising taxes.

Philippe told lawmakers that France’s debt had reached “an unbearable level”, putting the country “at the mercy of financial markets”. Philippe won the vote in France’s lower house of parliament by 370-67. Besides getting support from President Emmanuel Macron’s party which has a wide majority after a landslide win last month he also got votes from centrist allies and even some conservative lawmakers.

The truth is that while our German neighbors raise 100 euros in taxes and spend 98, we are raising 117 euros and are spending 125. Philippe pledged to stop increasing the number of state employees, to focus the government on its main priorities and to stop spending money on policies that don’t deliver results.

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